I started Insurance Blog by Chris™ because I have a passion for insurance. Here at the blog, our job is to educate and inform people about the best insurance for them. Since then, we have grown into national brands with a large team of researchers helping people understand all forms of insurance.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health insu...

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Reviewed by Rachael Brennan
Licensed Insurance Agent

UPDATED: Mar 15, 2021

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When it comes to disability insurance, you have a wealth of options. So much so it can be hard to know where to start when it comes to narrowing them down. To help you out, today, we’ll be taking an in-depth look at one of those options—Unum.

Who is Unum?

unum insurance logo

Unum is an insurance company and benefits partner that has been helping employers and employees for over 165 years. They are the #1 disability provider of group and individual disability benefits in the United States, and they rank #3 in group life insurance and voluntary benefits.

Unum services 53% of Fortune 100 companies or their subsidiaries and affiliates, protecting nearly 36 million employees and their families. In addition to disability and life insurance, they also offer protection against accidents and critical illnesses, as well as provide dental and vision benefits.

Their policies help employers offer comprehensive benefit solutions that will not only attract more employees to their company but support the established employees who work hard to help them grow. Employees benefit immensely by having the peace of mind they need to protect their families, their finances, and their futures.

Unum provides more than just policies. Their benefits solutions include support for communicating benefits, enrollment services, and filing of claims. To help employees get back on the workforce as soon as possible and be able to work at full capacity, Unum offers absence management and vocational rehabilitation.

Unum is #267 on the Fortune 500 list with 193,000 businesses offering policies through their company. They have an excellent reputation with 97% of reviewers recommending their products for an overall rating of 4.7 out of 5 stars. Unum focuses its business on helping people through difficult times in their lives.

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What Disability Insurance Does Unum Offer?

Unum offers three types of disability insurance. These include short term, long term, and individual disability insurance policies.

Short term disability

Short term disability insurance would be helpful for maternity leave, illness, and temporary injuries. It can pay up to 60% of your income. If you are out for several weeks, this can take the pressure off worrying about how to pay your bills.

Long-term disability

Long term disability can also pay you a monthly benefit of up to 60% of your income, to be used for your bills or costs related to your medical treatment. This type of disability can help you financially in your recovery from severe injuries or even certain forms of cancer.

Cardiovascular, joint, or back disorders are covered as well. Being out of work long term can be devastating for most families which is why disability insurance is so vital.

Individual disability

Individual disability insurance is also offered, which can cover commissions or bonuses that you may not be getting if you become sick or hurt. It can replace a higher percentage of your income and can fill the gap where other disability insurance may fall short. It is considered great supplemental insurance for higher-earning income individuals.

How Much Does Unum Disability Insurance Cost?

On average, disability insurance costs 1-3% of an employee’s annual income. For example, an employee making $50,000 per year would pay $500-1,500 per year in premiums. The investment can vary depending on the type of disability plan you need and want as well as the particular industry that your business falls into.

Unum offers several flexible funding options. These options include premiums that are paid for entirely by the employer, solely by the employee, or a shared plan, where the costs are split.

The best way to find out an exact quote is to provide your information to an Unum representative who can customize a plan to fit your needs and budget, along with providing you a specific estimate of what your investment would be.

Pros & Cons of Unum Disability Insurance

There are many pros to obtaining disability insurance with Unum.

Pros

  • They offer a full range of disability benefits that can be customized for any situation or any size company, from 2-20,000 employees.
  • They offer several plans to meet almost everyone’s needs.
  • With flexible funding options, premiums can be made in a way that is easiest for all.
  • They also have easy online tools to make it simple to pay premiums or to make any changes to your employee information.
  • Their services and information on the policy are available 24 hours a day
  • You will have the satisfaction of dealing with a large established company that has been in business since the mid-1800s.
  • They provide everything you need to make them happier, dedicated, and more productive since they know their financial situation is now secure.

The cons of disability insurance with Unum is about the same as with any other company offering this coverage.

Cons

  • Benefits are limited to 60% of annual income which is standard in this marketplace.
  • Also, back disorders are covered but not back injuries.

These are not even considered cons, just limitations, that all companies have in their disability policies. The pros outweigh any disadvantages.

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Is Unum Disability Insurance for You?

Disability insurance is for you if you rely on your income to survive and to pay your bills. If you don’t have a large sum of money in savings to get you by if you become sick or hurt, disability insurance is a must. If you would be in financial trouble if you couldn’t work, then disability insurance is something you can’t afford to live without.

It would be best if you protected you and your family from such a devastating tragedy as a long- term sickness or an injury.

If you have determined that you indeed need disability insurance, getting your policy through Unum can be a very smart choice. With the incredible number of employees protected through their plans and the enormous amount of businesses that have signed on to work with Unum, it’s hard to imagine your decision to work with them not being a good one.

When you combine their track record with their 4.7-star rating, it would be wise to protect your number one asset, your ability to earn an income, with Unum.